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Quarterly Report For The Financial Period Ended 30 June 2018

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Condensed Consolidated Statement Of Profit And Loss And Other Comprehensive Income
For The Quarter And Six Months Ended 30 June 2018

Condensed Consolidated Statement Of Financial Position
As At 30 June 2018

Review of Performance

Comparison between Current Financial Quarter Ended 30 June 2018 and Previous Corresponding Quarter Ended 30 June 2017

A summary of the Group's performance is set out below:-

Surface Treatment & Precision Cleaning Division

Revenue for the current quarter increased 38.98% as compared to the preceding year corresponding quarter. The increase is broad based across all surface treatment and precision cleaning services.

Gross profit margin increased from 16.75% to 23.83% in the current quarter mainly due to higher set up cost incurred for new spray paint project in the previous financial quarter.

For the current financial quarter, the Group other income of RM251,000 is mainly due to a gain on foreign exchange of RM213,000. In the previous year corresponding quarter, the group suffered a loss on foreign exchange of RM314,000 reflected in Other expenses.

For the current financial quarter, the Group reported a profit before tax of RM0.18 million as compared to a loss before tax of RM2.05 million in the previous year corresponding quarter.

Material Changes in the Quarterly Results as Compared with the Immediate Preceding Quarter

Surface Treatment & Precision Cleaning Division

The Group's revenue from Surface Treatment & Precision Cleaning for current financial quarter has increased by 12.60% as compared to the immediate preceding quarter. The increase is broad based across all surface treatment and precision cleaning services.

Gross profit margin for the surface treatment and precision cleaning division increased from 22.30% to 23.83% in the current financial quarter.

The Group registered a profit before tax of RM0.18 million as compared to a loss before tax of RM1.15 million in the immediate preceding quarter.

Future Prospects

Major HDD manufacturers are shifting more operations from China and Malaysia into Thailand, the Group immediate focus is on its Thai factory setup . Our Thai factory is expected to commence operations by the 4th quarter of 2018.

Demand for surface treatment services is increasingly more volatile in line with the recent economic uncertainly. However Surface treatment operating performance is expected to be positive for the next quarter.

Overall 2nd half operating performance is expected to be better than 1st half of 2018.

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